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Our reporter Wang Chao
Macquarie Bank of Australia predicted that China's steel production would increase to 550 million tons in 2010.
Jim Lennon, Executive Director of the Commodity Research Department of the Institute, said at the World Steel Seminar held by the Commodity Research Institute (CRU) that due to the active intervention of the Chinese government, China's steel exports will not pose a threat to the global steel market in the medium term
。 At present, the annual growth rate of world steel production is about 5-6%, with a large part coming from China. At present, China's steel demand accounts for 30% of the world's total consumption, and Lennon conservatively estimates that the share is likely to grow to 40%.
Last year, China's per capita steel consumption reached 275 kg, but the growth rate of other Asian countries during the same period was far less than that of China. Lennon believed that China's steel demand accelerated, while other countries grew slowly. If the demand of other countries and China grows rapidly at the same time, the world steel production will not meet the demand. For example, in the first half of 2004, the demand for steel in other countries and China grew strongly Iron ore Supply brings great pressure.
Due to the serious shortage of raw materials, the Chinese government had to implement intervention measures to slow down the economic growth since May 2004. However, because the slowdown in output growth was slower than the slowdown in demand growth, China's steel imports changed from net imports to small exports last year. Lennon said that the huge trade surplus and the acceleration of urbanization will promote China's economy Continued growth and high domestic savings will also provide a large amount of funds for China's infrastructure construction, so China will continue to become a major steel demand country in the world.
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